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North America E-bike Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)

North America E-bike Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)

  • September 2021
  • 85 pages
  • ID: 6155713
  • Format: PDF
  • Mordor Intelligence LLP

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The North American e-bike market was valued at USD 0.71 billion in 2020. It is expected to reach a value of USD 1.44 billion by 2026, registering a CAGR of 12.51% during the forecast period.

Due to the COVID-19 pandemic, micro-mobility turned into an essential transportation service. After an initial slump in e-bike sales during lockdowns, the demand for e-bikes is slowly gaining momentum. Hence, the market is anticipated to witness an optimistic growth over the forecast period.

Increasing consumer interest toward using e-bikes as an eco-friendly alternative, coupled with government initiatives, like constructing bicycle-friendly streets, may further enhance the market. Improvement in battery technology and the adoption rate of e-bikes in the cargo transportation and logistic sector may also offer new opportunities for the players in the market.

However, the high cost of e-bikes and lack of proper infrastructure in developing countries may restrain the market growth during the forecast period. The United States is expected to dominate the market. The country witnessed unprecedented growth in bicycle and e-bike sales despite the pandemic. This growing adoption rate is expected to boost the market demand.

Key Market Trends

The Pedal-assist Segment is Expected to Dominate the Market

The pedal-assisted segment is expected to dominate the market during the forecast period. Pedal-assist is an operating mode on an electric bike, where once it is activated, the motor kicks in while the rider is pedaling. It is designed to help the rider pedal easier and has varied settings, allowing the users an effortless ride at the desired speed.

The major players in the market are adopting various growth strategies, such as partnerships and collaborations, to capture most of the market share. Moreover, product launches are expected to make the regional market more competitive in the pedal-assisted segment. For instance,

In October 2020, Harley-Davidson unveiled a brand to focus exclusively on the e-bicycle market. Named as Serial 1 Cycle Co., the brand’s products will be pedal-assist electric bicycles. The e-bicycles are expected to be available via direct-to-consumer sales online and at select Harley-Davidson dealers.
In July 2020, Yamaha Bicycles introduced two new offerings under the all-mountain e-bike segment, i.e., YDX-MORO and YDX-MORO Pro Boast PW-X2 drive units. It also launched a new proprietary Quad Sensor System in Automatic, MTB, and Walk Assist modes.

With various bike-sharing platforms in the region adding new pedal-assisted e-bikes to their fleet, the pedal-assist segment may witness healthy growth during the forecast period. For instance,

In February 2021, Revel announced its plans of expanding its product line-up to include monthly e-bike subscriptions for residents of New York City. The pedal-assist bikes, manufactured by WING Bikes, come equipped with a 36-volt battery that can travel 45 miles on a single charge and reach speeds of up to 20 miles per hour.

The United States is Anticipated to Play a Significant Role in the Market

The US e-bike market is expected to hold a significant share in the market during the forecast period. Some of the major factors driving the market’s growth are a growing focus on travel and recreational activities and lesser traffic congestion. Rising e-bike sales despite the pandemic and increasing interest among the youth toward trekking and adventurous activities are likely to propel the growth of the market during the forecast period

Moreover, the major cities in the United States are adding bike lanes to support the rapid adoption of e-bikes. For instance,

In December 2020, Mayor Bill de Blasio announced that the New York City Department of Transportation (DOT) constructed a record 28.6 lane miles of new protected bike lanes across all five boroughs.

To further explore the untapped market potential, companies are launching e-bikes to commercialize the e-bikes segment and increase their share and revenue in the market. For instance,

In March 2021, Kent announced its first electric bicycle, designed especially for children. The Kent Torpedo is a pedal-assist e-bike. The motor has a 24V 5.2Ah battery with a capacity of 125 Wh. In low power mode, the battery is sufficient for a range of 15 miles (25 km).

Thus, based on the factors mentioned above, the United States is expected to witness significant growth and contribute toward the development of the North American e-bike market.

Competitive Landscape

The North American e-bike market is highly fragmented, with the major players holding a low market share. Some of the key players in the market are adopting various growth strategies, such as diversifying their product portfolios through innovations and new launches, to retain their spots as market leaders. For instance,

In January 2021, Ford, Trek, and Bosch partnered to develop a Bicycle-To-Vehicle (B2V) Communication safety software that may allow forms of micro-mobility to communicate with nearby vehicles so that drivers in big cities and congested areas are more aware of riders out of their line of sight. It could also trigger visible alerts on bicycles when cars get too close.
In October 2020, Gazelle announced new electric bicycles with the first belt drives in the United States, adding two new models to its Ultimate line for the North American market, namely, the Gazelle Ultimate C8 and Ultimate C380.

Some of the major players in the market include Trek Bicycles corporation, Giant Manufacturing Co. Ltd, Cannondale Bicycle Corporation, and Accell Group.

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